S9-11 Cash collections (Learning 3, budget Objective Kessler Service anticipates the following sales revenue over a five-month period: November December January February March $15,200 $13,200 14.400 The company's sales are 30% cash and 70% credit. Its collection history indicates that Sales revenue $16,500 $11,200 credit sales are collected as follows: 25% in the month of the sale 50% in the month after the sale 20% two months after the sale 5% are never collected How much cash will be collected in January? In February? In March? For the quarter in total? S9-12 Cash payments budget (Learning Objective 3) Finley Corporation is preparing its cash payments budget for next month. Thefollowing information pertains to the cash payments: Finley Corporation pays for 50% of its direct materials purchases in the month of purchase 78,000, while the company anticipates $88,000 of direct material purchases next month. the end of the upcoming month a. and the remainder the following month. Last month's direct material purchases were b Direct labor for the upcoming month is budgeted to be $35,000 and illbl paid at c. Manufacturing overhead is estimated to be 150% of direct labor cost each month and is paid in the month in which it is incurred. This monthly estimate includes $10,000 depreciation on the plant and equipment. d. Monthly operating expenses for next month are expected to be $49,000, which induise $2,700 of depreciation on office equipment and $1,700 of bad debt expense. Ihes monthly operating expenses are paid during the month in which they are incurred. Finley Corporation will be making an estimated tax payment of $8,600 next mon e. How much cash will be paid out next month